The biosimilar developer, backed by Strides Arcolab, floated at around half the price of its range having first filed for a $115m initial public offering in January 2016.
Oncobiologics, a US-based clinical-stage biopharmaceutical company backed by pharmaceutical firm Strides Arcolab, has raised $35m from an initial public offering on Nasdaq.
The company issued 5.8 million shares priced at $6 each, far below its anticipated range of $11 to $13. Oncobiologics had originally filed for a $115m offering in January 2016.
Sabby Healthcare Master Fund is expected to invest $5m in a concurrent private placement, while a range of existing, unnamed investors are set to acquire a total of…
